Central Nevada Gold Acquires High-Grade Gold Mine in Nevada, USA

en.Wedoany.com Reported - Central Nevada Gold is advancing pre-feasibility studies and permitting work for the Mule Canyon gold mine in Nevada, USA, to support a construction decision for the project. Mule Canyon is a former open-pit mine that produced high-grade gold, located approximately 10 kilometers southeast of Battle Mountain, Nevada. It holds valid operating plans, water rights, and on-site grid power, and has been in care and maintenance since 2000.

The mine has extensive historical data, with a database containing 2,149 drill holes totaling over 335,000 meters. Historical gold production over five years was approximately 500,000 ounces, with a historical head grade of 3.8 grams per tonne gold and a historical metallurgical recovery rate of about 94%. Additionally, a drill hole by Goldfields Corporation intersected 41.1 meters at 24.8 grams per tonne gold.

Central Nevada Gold expects to release a new mineral resource estimate and accompanying technical report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) in the coming months. Mine planning and economic studies are underway, and significant progress has been made on the project's critical permitting pathway. The company is also actively evaluating a listing on a North American stock exchange.

The company is led by a team of experienced mining executives, including President and CEO Simon Griffiths and Executive Director Fraser Buchan. The team has a strong track record in financing, developing, and operating commercial-scale precious metal mines, having held senior leadership roles at Andean Precious Metals, OceanaGold, Newcrest, and Newcastle Gold, and having developed and operated several large precious metal mines, including the San Bartolomé Mine in Bolivia, the Castle Mountain Mine in California, and the Haile Mine in South Carolina.

CEO Simon Griffiths stated that the acquired brownfield project, with its foundation of historical drilling, production data, and environmental studies, facilitates efficient advancement through the development and permitting stages and has already garnered strong support from early investors. He noted that Nevada is a jurisdiction where mining projects can be permitted and brought into production.